Trump Media (NASDAQ: DJT) faced a setback on September 11, plummeting by as much as 15% and ultimately closing down 10% at $16.68, losing $1.95 (-10.47%).
The downward trend continued in pre-market trading on September 12, with shares declining to $16.36, marking an additional drop of $0.32 (-1.92%).
The decline in Trump Media stock was attributed to the impact of the presidential debate between former President Donald Trump and current U.S. Vice President Kamala Harris, with market sentiment favoring the Vice President and resulting in the ongoing sell-off of Trump Media shares.
The recent drop in Trump Media stock adds to its prolonged decline, especially since Representative Marjorie Taylor Greene became involved. Greene made a substantial investment of up to $50,000 in DJT on October 22, 2021, when the shares were trading high at $92-$94. Since then, the stock has plunged by approximately 83%, marking Greene’s entry at a notable peak.
Meanwhile, cybersecurity firm CrowdStrike (NASDAQ: CRWD) witnessed an intriguing move from Marjorie Taylor Greene. On June 24, she initiated a position at $377.93, but by September 12, the stock had dropped to $253.53, reflecting a significant 33% dip. Greene’s position on the House Cybersecurity Subcommittee adds a layer of irony to this situation.
Referred to as a figure akin to Jim Cramer in the investment realm, Greene’s trading activities have sparked discussions about creating an “Inverse Greene ETF,” a playful dig at her less-than-impressive performance. With trust ratings of politicians hitting record lows, Greene’s investment portfolio hasn’t been able to improve this sentiment.
Adding to the intrigue, Greene initially claimed on January 2, 2024, that she did not hold any stocks, only to later assert that she was holding them on behalf of a friend when questioned about her presence in Congressional stock reports. By May 21, she had reported new trades worth $840K, involving 14 new transactions totaling around $210K.
While Greene may not have a reputation for timing the market effectively, she has shown a tendency to follow trading patterns similar to those of Nancy Pelosi, making significant moves in tech giants like Nvidia (NASDAQ: NVDA) and retaining her position in CrowdStrike.
It remains to be seen if Greene’s investments will yield positive results or echo her CrowdStrike experience, but the concept of an “Inverse Greene ETF” is gaining traction as a unique phenomenon in the investment landscape.